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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
INTEREST AND DIVIDEND INCOME        
Interest and fees on loans $ 17,080 $ 16,578 $ 50,623 $ 48,026
Interest on securities 2,099 1,800 5,766 5,347
Interest on federal funds sold 30 178 179 603
Interest on deposits in other banks 27 213 265 935
Dividends on stock 13 12 19 30
Total Interest and Dividend Income 19,249 18,781 56,852 54,941
INTEREST EXPENSE        
Interest on deposits 1,954 2,514 6,497 7,260
Interest on other borrowed funds 0 0 16 0
Interest on junior subordinated debentures 0 73 0 385
Total Interest Expense 1,954 2,587 6,513 7,645
Net Interest Income 17,295 16,194 50,339 47,296
Provision for loan losses 1,590 378 3,618 1,432
Net Interest Income After Provision for Loan Losses 15,705 15,816 46,721 45,864
NONINTEREST INCOME        
Service charges on deposit accounts 1,055 1,195 3,001 3,304
Debit card income, net 978 833 2,629 2,314
Mortgage loan income 2,884 1,014 5,720 2,186
Brokerage income 586 561 1,725 1,552
Loan and deposit income 413 404 1,340 1,131
Bank-owned life insurance income 139 137 425 407
Gain (Loss) on equity securities 0 30 96 133
Gain (Loss) on sale of securities 125 5 1,348 5
SBIC income 200 139 568 634
Other income (loss) 40 68 122 115
Total Noninterest Income 6,420 4,386 16,974 11,781
OPERATING EXPENSES        
Personnel expenses 8,077 7,007 23,072 20,652
Occupancy and equipment expenses 1,319 1,199 3,739 3,708
Technology expenses 661 595 1,863 1,697
Advertising 240 216 717 821
Other business development expenses 233 266 782 827
Data processing expense 491 479 1,412 1,420
Other taxes 433 425 1,308 1,234
Loan and deposit expenses 289 285 808 901
Legal and professional expenses 487 436 1,587 1,138
Regulatory assessment expenses 172 37 337 312
Other operating expenses 849 940 2,445 2,737
Total Operating Expenses 13,251 11,885 38,070 35,447
Income Before Income Tax Expense 8,874 8,317 25,625 22,198
Income tax expense 1,589 1,470 4,741 4,117
Net Income $ 7,285 $ 6,847 $ 20,884 $ 18,081
EARNINGS PER SHARE        
Basic (in dollars per share) $ 0.99 $ 0.94 $ 2.85 $ 2.59
Diluted (in dollars per share) $ 0.99 $ 0.93 $ 2.84 $ 2.57